Financial Process Automation (FPA) uniquely addresses the mandate placed on finance departments to reduce the number of days to perform the period-end close while maintaining the highest degree of accuracy and compliance in financial reporting. Not only does the FPA solution reduce costs, it also increases the speed, accuracy and reliability of results, allowing more time for analysis by finance professionals.

Capabilities

Financial Process Automation™ (FPA) is built upon Redwood’s proven job scheduling and process automation products: Cronacle and SAP Central Process Scheduling.

This solid base of automation technology provides a central point of control and monitoring for these FPA capabilities:

• Process Monitoring:  A simple, real-time view of the financial closing processes, including the status of automated and manual tasks.   Closing  processes can be viewed from your web browser or from the FPA Mobile™ application for the Apple iPhone™. Learn more >>
• Process Mapping:  A customized methodology that aligns both business and IT tasks into automated process flows using  Redwood Process Scheduling technology.  The process flows are designed around proven automation techniques that reduce closing time and improve efficiency. Learn more >>
• Report Validation:  An automated method to electronically review data and balances within one report or to compare data on several reports.  Replaces the labor intensive, error-prone process of manual report review currently utilized by most companies. Learn more >>
• Analysis and Archiving: A robust set of capabilities for analyzing closing task run-time performance along with a centralized report archiving portal for all financial reports.  Reports can be indexed to perform customized data searches and easily converted into editable file formats such as Excel for further evaluation. Learn more >>

SAP customers will receive additional benefits from the Redwood solution for Financial Process Automation.  Redwood FPA provides added value to SAP Fast Close solutions including SAP ERP Financials and the SAP Financial Closing cockpit.